| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3924 SW 17th Ln, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1981 |
| Units | 100 |
| Transaction Date | 1983-05-01 |
| Transaction Price | $107,800 |
| Buyer | NBG PROPERTIES INC |
| Seller | --- |
3924 SW 17th Ln Gainesville Multifamily Investment
Amenity-dense inner-suburb location with a deep renter base supports demand and leasing velocity, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady, with renter concentration reinforcing long-term multifamily relevance.
Located in Gainesville’s inner suburbs, the property benefits from a neighborhood rated A+ and ranked 2 out of 114 metro neighborhoods, indicating competitive positioning among Gainesville submarkets. Dense retail and daily-needs access stand out: grocery options rank 2 of 114 and restaurants 3 of 114, both in the top quartile nationally, helping sustain renter appeal and day-to-day convenience.
The area shows strong amenity depth beyond retail. Cafes rank 3 of 114 and pharmacies rank 3 of 114, while parks rank 9 of 114 — collectively competitive among Gainesville neighborhoods and top quartile nationally by density. For investors, this concentration of services supports resident retention and marketing differentiation versus lower-amenity corridors.
Renter-occupied housing is prevalent at the neighborhood level (ranked 1 of 114 by renter concentration), signaling a large tenant base and consistent demand for apartments. Neighborhood occupancy sits closer to the metro middle (rank 68 of 114), suggesting stable but actively managed leasing conditions. Median home values trend lower relative to national benchmarks with a high value-to-income ratio (nationally high percentile), which typically sustains reliance on rental housing and supports pricing power when managed carefully.
The asset’s 1981 vintage is older than the neighborhood average construction year of 1995 (ranked 15 of 114 for newer stock), which points to potential capital planning and renovation opportunities. Thoughtful upgrades can sharpen competitive positioning against newer properties while capturing operational upside where interior and systems improvements address resident preferences.
Demographic statistics are aggregated within a 3-mile radius: households increased over the last five years and are projected to expand further, with forecasts calling for additional population growth and a larger household base. A renter share around the three-mile area remains high, and forecast rent levels trend upward, indicating a broadening tenant pool that can support occupancy stability and lease-up strategies over time.
Safety indicators in this neighborhood track below national averages but are closer to the metro middle, with the area’s overall crime rank positioned 53 out of 114 Gainesville neighborhoods. Nationally, safety percentiles indicate higher-than-average crime incidence, so underwriting should reflect prudent security measures and conservative loss assumptions.
Recent momentum is constructive: estimated violent and property offense rates both declined year over year (roughly mid-to-upper tier nationally for improvement). This trend suggests conditions are moving in a favorable direction, though investors should continue to monitor local patterns and align operations — lighting, access control, and coordination with property management — to support resident confidence.
Positioned in an amenity-rich inner-suburb of Gainesville, the property is supported by a deep renter base and competitive neighborhood ranking. Based on CRE market data from WDSuite, neighborhood occupancy is around the metro middle while renter concentration is among the highest locally, indicating durable demand with active leasing needs. Median home values and a nationally high value-to-income ratio reinforce sustained renter reliance on multifamily housing, which can bolster pricing power with disciplined lease management.
Built in 1981, the asset is older than nearby averages, creating a clear value-add path through targeted interior and systems upgrades that enhance competitiveness against newer stock. Demographic statistics aggregated within a 3-mile radius point to recent household growth and meaningful projected expansion in population and households alongside rising forecast rents — supportive of a larger tenant base, retention, and long-run occupancy stability. Risk factors include below-average national safety percentiles and rent-to-income pressure, warranting prudent expense, security, and leasing strategies.
- Amenity-dense location with top-quartile grocery, restaurant, and cafe access supports leasing and retention.
- Deep renter base (renter concentration ranked 1 of 114 metro neighborhoods) underpins demand.
- 1981 vintage offers value-add potential via targeted renovations to compete with newer stock.
- Three-mile demographics show recent and projected household growth, expanding the tenant pool and supporting occupancy stability.
- Risks: below-average national safety percentiles, affordability pressure (high rent-to-income), and metro-median occupancy requiring active management.